If you're in Oklahoma and you're looking for a lucrative investment opportunity then you're in luck. The state is a largely untapped market in comparison to some of its heavy hitter neighbors. This is good news, as it means there is plenty of opportunities to bag a bargain or get in on the ground floor of an exciting investment.
But not all investments are created equal. Before you start looking at the best areas to invest in real estate, it's a good idea to think about the kind of real estate investment you would like to make.
This guide will help you to do just that. Read on for a simple rundown of everything you need to know about real estate investing in Oklahoma.
What Type of Investment Property Do You Want?
Depending on your financial situation or how hands-on you want to be, different types of Oklahoma real estate investments will suit you more or less. Let's take a brief look at some of the options available to you.
House flipping is a popular option among those who aren't afraid to do a little work and have limited funds to spare. This involves buying a property, adding to its value, and then selling it on for a profit. Another less expensive but hands on option is to buy a plot of land and develop something on it.
Becoming a commercial or residential landlord is slightly less hands-on (especially if you work with an Oklahoma property management company) but brings in a steady income stream. Finally, for a more passive income, you can choose to invest in a REIT.
Where to Invest in Oklahoma
Once you've found your funding and decided which type of property investment is right for you, your next step will be to find an area that suits your requirements. There are several attractive options available.
The first and most obvious is Norman, OK. This progressive city is not only home to the University of Oklahoma, it's also popular with families due to its solid school system and job opportunities. For this reason, Norman would be a savvy choice for either a rental or commercial property investment.
Next, we have Oklahoma City. The largest city in the state, it's naturally attractive to people from all over. There are several diverse districts to choose from here.
Employment is growing and house prices are rising, but still not prohibitive. For this reason, OKC could make the perfect place for someone wanting to flip houses. It also has an array of rental properties at reasonable prices.
For the above reasons, Tulsa, OK is another place you may consider investing. Here, demand may not be as high as in OKC, but it's possible to find great value properties of you hunt for a bit.
Best Areas to Invest in Real Estate: Oklahoma
Hopefully, this guide to the best areas to invest in real estate will help you in your search. No matter where you choose, make sure to do your research before diving into any real estate investment.
If you're eyeing up a rental property, but you're worried about the work involved, we'd be happy to help. Get in touch with Oklahoma City Property Management today to discuss what we can do for you.